Vasco unlocks Latin American market potential

Vasco unlocks Latin American market potential

Vasco is reporting three contract wins for its Digipass authentication tokens with Latin American banking institutions in Panama, Chile and Guatemala.

Banco Aleman Platina in Panama has contracted to use Vasco's Vacman Controller and will offer Digipass tokens to corporate customers performing electronic transactions. The bank plans to convert three-quarters of its clients to the system in the 'mid-long term'.

In Chile, Redbanc, the provider of the Interconnected Banking Network (RBI) used by Chilean banks to transfer electronic funds and information, is to implement Digipass in an internal security application. Lloyds Bank in Guatemala is also using Digipass to allow its employees to securely perform remote access actions. Redbanc and Lloyds have also licensed Vasco's Vacman Radius for Middleware.

The Belgium-headquartered company sees the new contracts as an important first step in unlocking the Latin America banking markets.

"The Latin American market is of great importance for Vasco's longer term strategy," states Jan Valcke, Vasco's executive vice president of sales and marketing. "We see that the Internet and its derivates are growing very rapidly in this region. Next to that, the Latin American corporate banking world clearly sees the opportunities and the dangers of performing transactions via the Internet."

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